Tag - Inventory Performance Monitoring

What is inventory performance monitoring? Why is it so important? How does it affect business work flow? As a successful leader, you need to understand the basics of performance measurement. This is crucial and applies to all businesses. Setup the appropriate analytics and monitoring systems. What information do you retrieve from your financial statements? Be surprised with the amount of information hidden. One proviso is that your Chart of Accounts is setup correctly. Inventory performance monitoring includes the monitoring of price. This can be for product or services. Use the ChangeBoard to see how a 1% increase in price can change your Profit.

SM5.0 Theory of Constraint (TOC) Find Remove Bottleneck

The Theory of Constraints (TOC) is an important optimising technique that focuses on improving the throughput of work at the (usually) single bottleneck or constraint in the workflow.   This Skills Module draws together a number of the 12Faces articles on the subject.  One research project demonstrated that 89% of improvement...

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How to Manage Local Optima Problem

It is a very widely held belief in business that each station in a production line should be working as hard as it can in order to maximise its efficiency. This might be a car assembly line or an accountant's office processing tax returns using several different stages in the accounting...

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Critical Financials for Business Explained

Critical Business Financials Explained provides a commentary on Tips that appear in the 12Faces TrendBoard family of analysis tools  

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How to Calculate Time to Produce each Product with Takt Time

Takt is the German word for the baton that an orchestra conductor uses to regulate the tempo of the music. Takt time may be thought of as a measurable beat time, rate time or heartbeat. Takt time is the average time between the start of production of one unit and the...

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How to Improve Cashflow Acceleration

A healthy cashflow is a major contributor to your business’s ability to survive and grow. Do you want to harness the power of your cashflow to grow your business?  Are you struggling to pay bills when they fall due? Speeding up cashflow can help with both these goals. Cashflow Acceleration discusses how you can...

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80/20 Principle and the Theory of Constraints

This is 12Faces equivalent of Godzilla meets the Hulk! In our language it is the mixing of the 80/20 Rule, which promises up to 16x growth and the Theory of Constraints (TOC) approach, which describes the most liberating aspect of your production line.

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Business Risk: Opportunity to Find with DashBoard

What is business risk and why should you undertake business risk management?Your Car's Dashboard shows Progress and Warns of Looming ProblemsSmart Business Leaders use the same concept to Monitor their Businesses12Faces is committed to helping you achieve Sustainable Business Success.Sustainable means on-going so you need monitoring tools to check your...

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Importance of Performance Analytics for Profit

Analytics and Metrics are the family of measurement tools that a business puts together to provide feedback on its position on whatever factors it chooses to monitor. The most common is Profit and Loss bookkeeping. One of the most sophisticated might be measuring your e-commerce performance with Google Analytics. There is an old saying that...

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Change your Accounting Mindset with Throughput Accounting

Throughput Accounting (TA) comes from the same stable of business thinking as the Theory of Constraints TOC and is a different way of accounting for a businesses success.  It is a major rethink on how to position your business for success.See the Skills Module introduction: Theory of Constraints (TOC)   Blue Belt

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